Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Fall in Norwegian unemployment decelerates slightly in February

The decline in Norwegian unemployment decelerated slightly in February. However, the downward trend continues to be solid and the level below Norges Bank’s forecast. Registered unemployment including those on labor market measures dropped by 600 persons in February after falling by 2400 last month. The unadjusted rate came in at 2.5 percent, coming in line with consensus expectations and the central bank’s projections.

There has been slight noise in the registered unemployment figures lately, and on average it is down 1100 persons a month. In line with the trend last year, the downward trend remains in place.

The fall in unemployment was consistent with Norges Bank’s projection. Still because of the sharp decline last month the level is still below Norges Bank. Seasonally adjusted jobless rate came in at 2.35 percent as compared with Norges Bank’s projection of 2.42 percent.

That, along with clear signs that employment is growing faster than anticipated, underpins an upward revision of the output gap in the coming March Monetary policy report. That, together with oil investment survey on the upside and higher expected rates abroad, argue for a higher rate path at least long out, noted Nordea Bank in a research report.

“But we are more uncertain of whether there will be any change in the forecast for rates in 2018, which is what counts for the market, after today’s figure. Next week’s key figures will be crucial”, added Nordea Bank.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

September 20 00:00 UTC Released

AEM3 Money Supply YY

Actual

7.3

Forecast

Previous

6.6

September 19 22:45 UTC Released

NZGDP - Annl-Avg, Prod-Bas

Actual

2.7 %

Forecast

2.7 %

Previous

2.7 %

January 31 00:00 UTC 334099334099m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 334099334099m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 345919345919m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 334099334099m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 345919345919m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 334099334099m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 334099334099m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 334099334099m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.